Tyson Foods sales hit by slowing demand, to shut 4 more US chicken plants

[1srelluc]

MSN

www.msn.com

Tyson Foods missed Wall Street expectations for third-quarter revenue and profit on Monday, hurt by falling chicken and pork prices as well as slowing demand for its beef products.

The company said it is closing four more U.S. chicken plants in the latest bid to reduce costs.

Shares were down nearly 6% premarket.

Tyson has already cut corporate jobs and shuttered other chicken plants this year as it struggles with declining profits and reduced demand from consumers squeezed by inflation and higher interest rates.

The company hiked prices last year to offset spiraling feed and labor costs, but has been hit in 2023 by lower prices in core protein segments, such as pork.

Maybe demand is down because nobody wants to buy chicken wings for $5.99/lb or a bag of frozen chicken for $12.00.

Chicken, like other similar products, is caught in a pinch between high input costs, and slowing sales.

The last couple of years were banner years for the industry, and now we're seeing the other side of the bust/boom cycle of poultry production.

The last few years have been champagne and bonuses in the chicken world so don't feel too bad for them.

 

[JGalt]

Yummm, chicken.

 

[DudleySmith]

But but we have Big Giant Shortages and no illegal alien labor to abuse !!! What happened to that narrative?

Farmers in Florida are snivleing over DeSAntis allegedly scaring off all the criminals they used to hire and abuse at the expense of legal farm workers. Never mind the govt. has no ceiling on H2-A permits, these racketeers are claiming a 'dire labor shortage n stuff'. It is self-inflicted, so pay them no mind, let them go bankrupt and go get real jobs themselves. Weed out the scammers and crooks and honest ag businessmen will replace the vermin.

 

[DudleySmith]

The company hiked prices last year to offset spiraling feed and labor costs, but has been hit in 2023 by lower prices in core protein segments, such as pork.

Spiraling costs that never happened.

 

[rampart]

But but we have Big Giant Shortages and no illegal alien labor to abuse !!! What happened to that narrative?

Farmers in Florida are snivleing over DeSAntis allegedly scaring off all the criminals they used to hire and abuse at the expense of legal farm workers. Never mind the govt. has no ceiling on H2-A permits, these racketeers are claiming a 'dire labor shortage n stuff'. It is self-inflicted, so pay them no mind, let them go bankrupt and go get real jobs themselves. Weed out the scammers and crooks and honest ag businessmen will

any evidence that desantis is fining or otherwise dealing with the employers of illegal labor? it seems we both recognize the hirers as a big part of this problem.

 

[toobfreak]

Yummm, chicken.

Planning on having a spiced fajita-seasoned chicken dinner tonight!

Maybe some hot apple pie for dinner with vanilla ice cream!

 

[JGalt]

Planning on having a spiced fajita-seasoned chicken dinner tonight!

Maybe some hot apple pie for dinner with vanilla ice cream!





View attachment 812716View attachment 812717

I make chicken fajitas so good that any Mexican would turn in his own mom to the Border Patrol just to have one. You marinate marinate chicken breasts in olive oil, lime juice, minced garlic, chili powder, cumin, smoked paprika and onion powder for an hour then cook them on the charcoal grill, along with a cast-iron skillet full of green peppers, onions, tomatoes, and jalapenos. When the chicken's done, I slice it up, mix it with the skillet fixin's, and serve it with flour tortillas, cilantro, Mexican rice, homemade guacamole, pico de gallo, and home made sauce.

The sauce takes two kinds of dried peppers toasted in another cast-iron skillet, some sauteed onions and garlic, fresh tomatoes,, water, salt, vinegar, cumin all thrown in a blender and pureed. The one thing I learned while living in Texas for 25 years is how good Mexican food should be.

 

[White 6]

MSN

www.msn.com

Tyson Foods missed Wall Street expectations for third-quarter revenue and profit on Monday, hurt by falling chicken and pork prices as well as slowing demand for its beef products.

The company said it is closing four more U.S. chicken plants in the latest bid to reduce costs.

Shares were down nearly 6% premarket.

Tyson has already cut corporate jobs and shuttered other chicken plants this year as it struggles with declining profits and reduced demand from consumers squeezed by inflation and higher interest rates.

The company hiked prices last year to offset spiraling feed and labor costs, but has been hit in 2023 by lower prices in core protein segments, such as pork.

Maybe demand is down because nobody wants to buy chicken wings for $5.99/lb or a bag of frozen chicken for $12.00.

Chicken, like other similar products, is caught in a pinch between high input costs, and slowing sales.

The last couple of years were banner years for the industry, and now we're seeing the other side of the bust/boom cycle of poultry production.

The last few years have been champagne and bonuses in the chicken world so don't feel too bad for them.

Meanwhile, the Humboldt, TN facility and the other production supporting facilities here are doing well, as they streamline some of their production and concentrate on it's newer production facilities investments.

Tyson Foods Invests $425 Million in New Tennessee Poultry Complex

Tyson Foods (NYSE: TSN) along with local, state and federal officials met Thursday to officially open the company’s new poultry complex in Humboldt, Tennessee. The $425 million project, which includes a processing plant, feed mill and hatchery, represents Tyson’s biggest investment in Tennessee...

www.tysonfoods.com

 

[White 6]

I make chicken fajitas so good that any Mexican would turn in his own mom to the Border Patrol just to have one. You marinate marinate chicken breasts in olive oil, lime juice, minced garlic, chili powder, cumin, smoked paprika and onion powder for an hour then cook them on the charcoal grill, along with a cast-iron skillet full of green peppers, onions, tomatoes, and jalapenos. When the chicken's done, I slice it up, mix it with the skillet fixin's, and serve it with flour tortillas, cilantro, Mexican rice, homemade guacamole, pico de gallo, and home made sauce.

The sauce takes two kinds of dried peppers toasted in another cast-iron skillet, some sauteed onions and garlic, fresh tomatoes,, water, salt, vinegar, cumin all thrown in a blender and pureed. The one thing I learned while living in Texas for 25 years is how good Mexican food should be.

Right up my ally, Galt. I am eating the hell out of chicken fajitas and wraps as part of my self-imposed changed of diet, and it is working, while being delicious and nutritious, and affecting my blood chemistry and weight, in a positive way. The change surprising my medical people, at the drop in cholesterol and triglycerides, now no longer ordering me on to long term drugs as seeing the 70 point drop in cholesterol and 125 point drop in triglycerides attainable by changes of diet, alone in my case, and the one time spike observed returning slightly again within normal limits.

 

[JustAnotherNut]

Another impact to their loss of income not mentioned above is they lost Walmart last year. Or atleast they did here. Walmart changed suppliers right around the time of the bird flu that killed off so many, from Tyson to Foster Farms and at a much lower price than Tyson.

 

[toobfreak]

I make chicken fajitas so good that any Mexican would turn in his own mom to the Border Patrol just to have one. The one thing I learned while living in Texas for 25 years is how good Mexican food should be.

 

[toobfreak]

I make chicken fajitas so good that any Mexican would turn in his own mom to the Border Patrol

Gee, that sounds good enough, JG, that I think I'll try making it myself. Thanks.

 

[DudleySmith]

^^^Doped up moron thinks there is something contradictory there. Article in the WSJ about the whining crooked farmers. Also see ...

Silence in the Fields

The U.S. government is allowing farmers to fill thousands of jobs with foreign 'guestworkers.' The conditions are hardly hospitable -- but those who speak out can be sent straight back home.

www.motherjones.com

Yeah I know, it has more than two lines of text, far too long for Democrats and deviants, but a few in the Peanut Gallery might actually be interested in the info.

 

[initforme]

Glad to hear it!